So you want to buy a house someday? Well it starts by laying the foundation in your own financial situation.
This is a series of blog posts I’m writing specifically aimed at young adults or other first time home buyers. The first steps are nothing exciting, but no less critical.
- Get steady
Getting “steady” means taking control of one’s current situation. It means working hard, paying bills, and saving money. While circumstances outside of our control can wreck havoc on even the most sound financial plans, it’s critical to take control of the things that are, well, in our control. A survey was conducted by Magnify Money in December of 2015 showing that over half of Americans live paycheck to paycheck. And that leads me to my next point…
- Think long term
Thinking of the big picture often helps avoid silly mistakes or impulse buys. When faced with a purchase or decision, one should evaluate their priorities and how this choice will impact them in 1 year, and in 5 years. If buying a home is important, it should impact the day to day decisions.
We had to start somewhere right? Make sure to read the other posts in this series “So you want to buy a house someday?” The posts will get more detailed as we go on!